Moody's assigns Orionstone notes B3

Moody's Investors Service said it assigned a provisional B3 corporate family rating to Orionstone Pty Ltd., an Australian-based privately owned equipment hire specialist.

At the same time, Moody's assigned a provisional B3 rating to the proposed $200 million senior secured notes due 2020.

The outlook is stable.

"Orionstone's (P)B3 rating primarily reflects the company's small scale and limited track record of operations under its current form," Moody's vice president and senior analyst Matthew Moore said in a news release. "The rating also reflects the company's limited diversity and direct link to the mining industry, which is experiencing significant volatility."

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